Crude Oil Moves Higher; Oxford Industries Shares Fall After Q4 Results

Benzinga · Apr 2 01:47

U.S. stocks traded lower midway through trading, with the Dow Jones falling over 300 points on Monday.

The Dow traded down 0.79% to 39,492.80 while the NASDAQ fell 0.22% to 16,344.11. The S&P 500 also fell, dropping, 0.45% to 5,230.46.

Leading and Lagging Sectors

Communication services shares jumped by 1.1% on Monday.

In trading on Monday, real estate shares fell by 1.8%.

Top Headline

Shares of Oxford Industries, Inc. (NYSE:OXM) fell more than 4% on Monday after the company reported downbeat financial results for its fourth quarter and issued weak guidance for the first quarter on Thursday.

Equities Trading UP

CXApp Inc. (NASDAQ:CXAI) shares shot up 143% to $5.95 after the company announced a partnership with Google Cloud for acceleration of the CXAI platform.

Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) got a boost, surging 87% to $0.1138 after the company FY23 operating results.

Doma Holdings Inc. (NYSE:DOMA) shares were also up, gaining 34% to $6.07 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.

Equities Trading DOWN

Nuvve Holding Corp. (NASDAQ:NVVE) shares dropped 29% to $0.7798 after the company reported worse-than-expected fourth-quarter financial results.

Shares of AEON Biopharma, Inc. (NYSE:AEON) were down 41% to $6.86 after the company reported a fourth-quarter loss of 71 cents per share.

Disc Medicine, Inc. (NASDAQ:IRON) was down, falling 50% to $31.25 after the company reported topline results from the Phase 2 AURORA study of bitopertin in patients with EPP.

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Commodities

In commodity news, oil traded up 0.9% to $83.92 while gold traded up 0.9% at $2,259.20.

Silver traded up 0.8% to $25.12 on Monday, while copper rose 1% to $4.0475.

Economics

The ISM Manufacturing PMI rose to 50.3 in March versus 47.8 in February and topping market estimates of 48.4.

U.S. construction spending fell by 0.3% from the prior month in February.

The S&P Global manufacturing PMI was revised lower to 51.9 in March compared to a preliminary reading of 52.5.

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